"Actionable Insights to Fuel Your Growth"
The global alkaline battery market size was USD 7.58 billion in 2020 and is projected to grow from USD 7.76 billion in 2021 to USD 10.86 billion in 2028 at a CAGR of 4.9% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with alkaline batteries witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Alkaline batteries are disposable batteries or non-rechargeable batteries where electrodes are made of zinc and manganese dioxide. It has high energy density and performs well at ambient temperature, as well as at low temperatures. It has low leakage, longer life, and better dimensional stability. It is used in vehicles and for commercial and industrial purposes. They are also used in tracking devices, radios, toys, watches, calculators, cameras, flashlights, lanterns, games, fire and smoke detectors, portable stereos, telephones, tape, compact disc players, and other applications. Growth in consumer spending and the increasing demand for electronic products are the key factors set to accelerate this industry’s growth during the forecast period.
Blockades in Supply Chains and Manufacturing across Regions to Harm Growth amid COVID-19
The global health emergency caused by the sudden spread of the novel coronavirus or COVID-19 has had a negative impact on almost every industry. Businesses had to suffer a significant loss in operational time due to the imposition of strict policies, such as nationwide lockdowns, to curb the virus’s reach. Accordingly, the disease outbreak has altered the demand for alkaline batteries as the demand from the end-use sectors has gone down. As the COVID-19 spread pushed many countries to implement lockdowns, it led to a decrease in the number of units produced, the number of units imported and exported, which ultimately hampered the alkaline battery industry growth.
Request a Free sample to learn more about this report.
Growing Advancement in Technology for Alkaline Batteries is a Current Trend
In an alkaline battery, the anode is the zinc, and the cathode is the magnesium oxide. The advancement in batteries has led to carbon usage in the cathode mix, which increases efficiency. A significant development in this alkaline type of battery has increased the performance capabilities, which would drive the demand for these batteries. Hence, significant technological advancement is one of the latest market trends.
Increasing Focus on Back-up Power is a Prominent Trend
Alkaline batteries are used to back up memory and clocks in laptop and desktop computers. Back-up power is urgently required during emergency applications for medical services, emergency lights, communications and electrical services, clean water, and other applications. Due to the instability of weather such as storms, hurricanes, cold and ice, and tornadoes, blackouts and power outages bring the need for power back up. The emerging demand for alkaline batteries from commercial applications such as data centers, telecom packaging plants, manufacturing plants, commercial buildings, agricultural operations, and processing facilities would propel alkaline batteries in the global market.
Increasing Consumer Spending to Fuel Demand for Alkaline Batteries
Increasing consumer spending for electronic gadgets would propel the alkaline battery industry’s growth during the forecast period. Consumer spending is a large component of GDP which upholds the economic stability of the country. It is used in household appliances and gadgets on a large scale, which further increases consumer spending. For instance, the average expenditures per consumer for 2018 were USD 61,224, which is an increase of 1.9% from 2017, as per the U.S. Bureau of Labor Statistics. Hence, the increasing consumer spending would fuel the demand for alkaline batteries in the forecast period.
Surging Demand for Electronics Products to Accelerate Market Growth
Electronic products are used in every sector, such as military, medical, industrial, commercial, and others. It is deployed in electronic products that are used in day-to-day activities on a large scale. The shifting dynamics in portability and mobility in telecommunication and mobile computing and the development of internet infrastructure would accelerate the use of alkaline batteries in the future.
Increasing Demand for Rechargeable Batteries to Restrain Market growth
Rechargeable batteries offer high power density, high discharge rate, good low-temperature performance, energy-efficient, and lower cost, unlike non-rechargeable batteries, negatively affecting the global alkaline battery industry. The growth of lithium-ion battery adoption is the perfect example of increasing preference for rechargeable batteries. Rechargeable batteries are more efficient and reliable; the consumer prefers more towards rechargeable batteries than an alkaline battery, which is primarily non-rechargeable. Hence, increasing demand for rechargeable batteries restraints the market growth in the coming years.
Increasing Consumer Spending to Lead to Growth of Primary Battery Segment
Based on product, this industry is segmented into the type primary and secondary. The primary battery segment held a dominant share of the market in 2020. The dominance is due to the wide range of applications of non-rechargeable batteries in electronics products and household appliances. The increasing demand for electronics products, and growth in consumer spending, has enabled the development of the primary battery segment. However, stagnant growth can be observed for the secondary segment owing to the increasing demand from applications such as watches, alarm clocks, flashlights, cameras, lanterns, and others. Hence, the growth in consumer spending and high demand for electronics products would further accelerate the demand for primary alkaline batteries in the global market.
AA Segment to Lead Backed by its Long-life Span & High Storage Capacity
Based on the size, the market is segmented into AA, AAA, 9 volts, and others. The AA segment is leading the market owing to the higher storage capacity and long-lasting life span. The AAA segment is also growing faster due to its increasing applications in smaller and portable devices, including MP3 players, TV remote controls, digital cameras, and others.
The 9-volt segment is set to generate more market share due to its wide scope of application in walkie-talkies, alarm clocks, smoke detectors, electronic parking meters, and other consumer electronics. The other segment is also set to show a surge in the market share. It includes C, D, N, and button batteries used in medical, industrial, defense and military, and other industries. It would drive the demand for alkaline batteries in the global market.
To know how our report can help streamline your business, Speak to Analyst
Consumer Electronics Segment to Dominate Stoked by High Demand for Batteries in Such Products
Based on the application, the market is segmented into remote control, consumer electronics, toys & radios, and others. The consumer electronics segment is expected to have a dominant share globally due to the increasing demand for alkaline batteries in laptops, computers, smartphones, MP3 players, and GPS units during the forecast period. The toys & radios segment is holding the second largest market share owing to the increasing application of these batteries in toys, radios, and walkie-talkies.
The other segment is also set to show a high market share in the global market, including cameras, entertainment, alarm clocks, flashlight, and tracking devices. It would propel the demand for these battery. The increasing engagement with digital technologies such as consumer IoT, smart homes, and home automation, coupled with the development of internet infrastructure and the spread of mobile communication network technologies, would drive global market growth.
The remote-control segment is growing at a steady rate owing to its wide scope of application in television sets, DVD players, and control functions such as power, playback, track change, volume, channels, heat, fan speed, or other features varying from device to device. Hence, a wide range of applications from the consumer electronics segment would drive alkaline batteries in the global market.
North America Alkaline Battery Market Size, 2020 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The market size in North America stood at USD 3.50 billion in 2020. The U.S. holds the largest market share for alkaline batteries owing to the growing adoption rate of consumer electronics products and increased consumer spending. It is also used in military, healthcare, and industrial applications. In addition to that, increasing investments in the healthcare industry and a wide scope of application in industrial applications would propel the alkaline battery market's growth in the forthcoming years in this region.
The Asia Pacific is estimated to hold the second-largest share in the global market. The growth is attributable to increased consumer spending and the booming growth in demand for electronic products. As per the International Monetary Fund (IMF) estimate, in 2020, the developing and emerging economies in the region increased by 5.6% in 2019, which signifies a growth opportunity for consumer spending in the coming years. Hence, growth in consumer demand would augment the market in the Asia Pacific during the projected period.
The market in Europe is expected to grow significantly due to the increasing expenditure on consumer electronics goods and gadgets. According to Statista Report 2020, the countries from Europe, such as Germany, the U.K., and France, held the leading positions in consumer expenditure. Hence, the increasing consumer spending capabilities would uphold the demand for electronic gadgets, which, in turn, would propel the demand for alkaline batteries during the forecast period in this region.
The market in the Middle East & Africa & Latin America is expected to show healthy growth in the coming years owing to the increasing investment in the electrical equipment, IT industry & telecom sector. It would augment the application of alkaline batteries. An increase in the demand for small electronic devices such as clocks, cameras, flashlights, and electronic toys, and portable radios would also accelerate the need for these batteries in the regions.
Duracell Inc. and Energizer Holdings to Lead Fueled by Their Expansion of Portfolios
The market is consolidated owing to the strong product portfolio and remarkable distribution network of major companies in the developed and emerging countries. Currently, Duracell Inc., Energizer Holdings, Camelion Batterien GmbH, and Gold Peak Industries (Holdings) Limited are the leading companies in the global market. Together these accounted for a significant share in 2020. However, the alkaline type of battery offers higher energy output, longer shelf life, and lasts longer than the carbon-zinc batteries. It has emerged as a replacement for carbon-zinc batteries. This is projected to lead to the healthy growth of the market by 2028.
The wide application of these batteries and flexible product options offered by Duracell has led the company to hold a strong position in the global market. The company offers its wide range of products under remote controls and the high drain devices segment. The strong foothold of Energizer Holdings on the global market is mainly due to its Energizer MAX family batteries, of which AA and AAA sizes are the bestselling ones.
Other key players such as Panasonic Corporation, ACDelco, Sunmol Battery Co. Ltd., Nippo, and Excell Battery Co. have also entered the competitive landscape with a wide product variation in batteries. Technical advantages and advanced features have increased their demand in the global market.
An Infographic Representation of Alkaline Battery Market
To get information on various segments, share your queries with us
The alkaline battery market research report provides a detailed analysis of the market. It focuses on key aspects such as the leading companies, product types, and leading applications across various industries. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the advanced market's growth over recent years.
Value (USD Billion)
Fortune Business Insights says that the global alkaline battery market size was USD 7.48 billion in 2019 and is projected to reach USD 10.71 billion by 2027.
Registering a CAGR of 4.8%, the alkaline battery market will exhibit steady growth in the forecast period (2020-2027).
In 2019, the North America alkaline battery market value stood at USD 3.46 billion.
The consumer electronics segment is expected to be the leading segment in this market during the forecast period.
The increasing consumer spending and the growing demand for electronics products are major factors driving the growth of the market. However, increasing demand for rechargeable batteries restraints the market growth.
Duracell Inc., Energizer Holdings, Camelion Batterien GmbH, and Gold Peak Industries (Holdings) Limited are the top companies in the market.
North America dominated the market in terms of share in 2019.
Alkaline batteries are disposable batteries that have a longer shelf life and higher energy density than the other batteries. These batteries are used in various applications which include smoke alarms, portable transmitters, scanners, digital voltmeters, door locks, remote controls, laser pointers, and others.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry